Tower Semiconductor Ltd. (NASDAQ:TSEM) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.83 and last traded at $21.76, with a volume of 24352 shares changing hands. The stock had previously closed at $22.15.
A number of research firms recently issued reports on TSEM. ValuEngine lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 7th. BidaskClub lowered shares of Tower Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, March 30th. Loop Capital began coverage on shares of Tower Semiconductor in a research note on Thursday, June 21st. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Needham & Company LLC lowered shares of Tower Semiconductor from a “strong-buy” rating to a “buy” rating and lowered their target price for the company from $50.00 to $32.00 in a research note on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Tower Semiconductor has a consensus rating of “Buy” and an average target price of $40.60.
The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.43 and a current ratio of 2.91. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.
Tower Semiconductor (NASDAQ:TSEM) last issued its quarterly earnings results on Monday, May 7th. The semiconductor company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Tower Semiconductor had a net margin of 20.34% and a return on equity of 21.96%. The company had revenue of $312.70 million during the quarter, compared to the consensus estimate of $325.03 million. During the same period last year, the company earned $0.48 earnings per share. Tower Semiconductor’s revenue for the quarter was down 5.3% on a year-over-year basis. equities analysts anticipate that Tower Semiconductor Ltd. will post 1.91 EPS for the current year.
A number of institutional investors have recently modified their holdings of TSEM. Wells Fargo & Company MN boosted its holdings in Tower Semiconductor by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 132,093 shares of the semiconductor company’s stock valued at $4,502,000 after purchasing an additional 27,675 shares during the period. BlackRock Inc. boosted its holdings in Tower Semiconductor by 10.5% in the 4th quarter. BlackRock Inc. now owns 321,003 shares of the semiconductor company’s stock valued at $10,940,000 after purchasing an additional 30,614 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Tower Semiconductor in the 4th quarter valued at $6,371,000. State of Tennessee Treasury Department boosted its holdings in Tower Semiconductor by 35.6% in the 4th quarter. State of Tennessee Treasury Department now owns 39,326 shares of the semiconductor company’s stock valued at $1,340,000 after purchasing an additional 10,322 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in Tower Semiconductor by 4.7% in the 4th quarter. OppenheimerFunds Inc. now owns 256,554 shares of the semiconductor company’s stock valued at $8,743,000 after purchasing an additional 11,577 shares during the period. 47.28% of the stock is owned by hedge funds and other institutional investors.
Tower Semiconductor Company Profile
Tower Semiconductor Ltd., an independent semiconductor foundry, manufactures and markets analog intensive mixed-signal semiconductor devices in the United States, Japan, Asia, and Europe. The company provides various customizable process technologies, including SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management, and MEMS.
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